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Fiscal Transparency in EU Accession Countries; Progress and Future Challenges

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  • William A Allan
  • Taryn R Parry

Abstract

This paper discusses the findings of fiscal transparency reports on standards and codes (ROSCs) for most EU accession candidate countries. Emphasis is given to the need to establish effective and accountable medium-term budget frameworks to establish policy credibility and anchor adjustment programs to meet EU fiscal goals. Adoption of budgeting and accounting standards consistent with the IMF Government Finance Statistics Manual 2001 framework will also help link budget decisions to EU standards of fiscal reporting. More consistent and comprehensive coverage of off-budget activities is needed for assessing fiscal risk and sustainability. Finally, local government issues need to be addressed by many of these countries since EU fiscal goals are set with reference to general government. Progress in all of these areas can be monitored by keeping fiscal ROSC assessments up to date.

Suggested Citation

  • William A Allan & Taryn R Parry, 2003. "Fiscal Transparency in EU Accession Countries; Progress and Future Challenges," IMF Working Papers 03/163, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:03/163
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=16751
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    References listed on IDEAS

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    1. George Kopits & Steven A. Symansky, 1998. "Fiscal Policy Rules," IMF Occasional Papers 162, International Monetary Fund.
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    Cited by:

    1. Brügelmann, Ralph & Fuest, Winfried, 2004. "Die öffentlichen Finanzen der EU-Beitrittskandidaten," IW-Trends – Vierteljahresschrift zur empirischen Wirtschaftsforschung, Institut der deutschen Wirtschaft Köln (IW) / Cologne Institute for Economic Research, vol. 31(1), pages 50-55.
    2. Helge Berger & George Kopits & István P. Székely, 2007. "Fiscal Indulgence In Central Europe: Loss Of The External Anchor?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 54(1), pages 116-135, February.
    3. Győrffy, Dóra, 2005. "Az intézményi tényezők szerepe az államháztartási hiány alakulásában Magyarországon
      [The role of institutional factors in the development of budget deficit in Hungary]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 755-773.
    4. International Monetary Fund, 2005. "Fiscal Transparency and Economic Outcomes," IMF Working Papers 05/225, International Monetary Fund.
    5. Nina Budina & Hana Polackova Brixi & Timothy Irwin, 2007. "Public-Private Partnerships in the New EU Member States," World Bank Publications, The World Bank, number 6743.

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